80% of real estate transaction is non-official
This is the statement of PhD Vu Dinh Anh, Deputy Head of the Price and Market Research Institute (Ministry of Finance) given in the conference “Solutions of Capital for Real Estate Market”, celebrated in May 14 in Hanoi. According to Mr. Anh, the thirst for capital of real estate market currently makes it "hot" and overwhelms the long-term and middle-term capital, which created "bubbles" and increased risk in this market.
According to Vietnam Real Estate Group, to 2020, Vietnam needs to use 1300 million m2 of new house to meet the Economic-Socio development demands ( 100 million m2 of house per year. However, in fact, we just meet 20 % of housing demand (20-30 million m2). Hence, to assure enough capital to develop this market, constraint risks from mobilizing “hot” capital, as the group mentioned, we need to increase real estate bond, equitize projects in order to attract investment capital of joint stock companies.

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